Aminat Ogunbanjo: On financial literacy (Every naira and Kobo should have a job)

Aminat Ogunbanjo

Belema is living a fake life owing to social media pressure to keep up with the Joneses. As a result, she is drowning in serious debt, having so many loan apps. It has gotten so bad that she has become suicidal because of the constant threats from calls and messages, as she is unable to pay off all her 'gbese'. This is one case scenario. Many others show how people fall into the financial mess 'ocean', get overwhelmed with no means of exit.

In most cases, people tend to get deeply involved in a financial crisis before consulting a financial advisor. It is like allowing the unripe plantain to get rotten so that it can no longer be useful. Money, if well managed, can multiply. Money also canver seems to be enough, making it a very bad master. It goes without saying that money answers all things; even the Holy Bible supports this. 

Whether you belong to the school of thought that says money cannot buy happiness, we do know the effect of a credit alert and what it does to the body. I have come to realise that poverty is, first of all, the state of one's mind, but some detrimental habits and lifestyle can aggravate that condition.

Without saying much, Omote Ro Dhe got in touch with a financial advisor, Aminat Ogunbanjo, who helps individuals and families secure their present and future financially. The beauty of what she does is that she works with where you are and what you have. 

This Olabisi Onabanjo University graduate has carved a niche in the finance sector, saving people from making financial mistakes and living in regret. In a chat, she shares money habits to adopt, developing financial literacy, creating financial plans and everything in between. 

Read excerpts of this educational interview below:

Can you take us back to the moment you decided to become a financial advisor? What gap or problem were you trying to solve?

The main problem I aim to solve as a financial advisor is financial illiteracy. Most people never learn how to manage money in school and end up figuring it out as they go — or sometimes not at all. I have always valued saving and financial discipline, even from a young age, because I don’t like to be ‘in need.’ My goal is to help people gain the knowledge and tools to manage their finances wisely and achieve financial security.

How has your personal relationship with money shaped the way you now advise others?

My experience with money has taught me to be disciplined and intentional. I’ve learned that every naira and kobo should have a job — your money should always be working for you. This is how I advise people: be consistent, plan well, and make your money purposeful so you can build financial security.

In one sentence, what does taking control of your financial future truly mean to you?

It means using your money today to shape the life you want tomorrow.

A new year often comes with resolutions. From your experience, what money habits should people prioritise at the start of the year?

People should prioritise budgeting to know their income, needs, and wants; tracking expenses to see where their money goes; starting a savings account, even with a small amount; and regularly reviewing financial goals to stay on track.

Many people set financial goals in January but lose steam by March. Why does this happen, and how can it be avoided?

Many people lose steam on their financial goals because they lack discipline — and nothing meaningful can be achieved without it. To stay financially disciplined, you first need a clear financial goal, which acts as a direction. Then, plan your finances, stay intentional with your money, and be consistent in following through.

One book or film, maybe relating to finance,s that changed your perspective?

The Psychology Of Money: Timeless Lessons on Wealth, Greed and Happiness.

Book by Morgan Housel.

If someone is reading this and feels they are already behind financially, what would you say to them right now?

You’re not behind. Start from where you are — it’s never too late to take control of your finances and build the future you want.

What is the biggest mistake people make when creating financial plans on their own?

The biggest mistake people make is only thinking about short-term goals and ignoring the future, thinking ‘the future will take care of itself.

How early should parents begin planning for their children’s education and future?

Education planning should start as early as possible so you can save consistently and give your child the best opportunities. It’s a myth that it’s only for current parents — it’s meant for both parents and intending parents.

What keeps you grounded and motivated on difficult days?  

What keeps me grounded and motivated on difficult days is my faith in God, who gives peace to my heart, and my goals, which give me purpose and direction.

If you could mentor your younger self, what would you say?

I’d tell my younger self: make God your foundation, stay disciplined, and always be a woman of your word.